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£95,000 Guide Price
Bedrooms
Bathrooms
Reception
Corley Estate Agents are pleased to present this 2 bedroom ground floor flat offered with NO UPWARD CHAIN. The flat forms part of an Over 55s Development and is offered on an 85% SHARED OWNERSHIP bases. The flat comprising hall, lounge, kitchen, 2 bedrooms, and bathroom. There are communally maintained gardens and communal parking on site. ACCOMMODATIONEntrance Hall Lounge with bay window and radiator.Kitchen with fitted units, cooker point, radiator, and plumbing for washing machine.Bedroom One with fitted wardrobes and radiator.Bedroom Two with window to rear and radiator.Bathroom with bath, shower over, low level WC and wash hand basin.PLEASE NOTE: The property is sold with 85% shared ownership.Tenure: LeaseholdCouncil Tax Band : AEPC Rating : CLEASE DETAILSThe propertys 99 lease was extended by the current owner and commenced 23/03/2016 so has 90 years remaining at the time these details were prepared. The service charge amounts currently to 175.03pcm and including garden maintenance, building insurance, and central heating boiler servicing.
Your property may be repossessed if you do not keep up repayments on your mortgage.
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Monthly Payment: £ 8,216.87
Amortization For Monthly Payment: £8,216.87 over 30 years ( Based on 3.20% Interest )
Using your investment as a 25.00% deposit and £ 5,833 in costs for purchasing and getting ready to let.
Stamp Duty is a tax paid on completion via your solicitor, the calculation includes the 3% surcharge for second homes.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The refurbishment budget is set to 2.50% of the purchase price, but this will vary dependent on the suitability of the property for the rental market. Select a value that you feel is appropriate to the condition of the property.
This will vary between lenders, type of report and whether or not you are buying with a mortgage, for advice on which type of survey would be appropriate speak with an advisor from Preston Baker Financial Services.
Lenders will often charge a fees for the arrangement of a mortgage, for advice on what lenders may charge, speak with an advisor from Preston Baker Financial Services. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the sum of mortgage admin, land registry, search, bank transfer and any other fees incurred.
Purchase costs include assumed mortgage and survey costs which are estimated. For a quote contact a Preston Baker Financial Services mortgage advisor who can provide you with current and accurate information. The stamp duty calculation has applid the 3% stamp duty surcharge on the basis that this will be a second property.
The mortgage is assumed to be interest only. Your home may be repossessed if you do not keep up repayments on your mortgage.
This is the percentage of the rent that you will spend maintaining the property.
Ground Rent only applies to leasehold properties. This is an assumed ground rent, the confirmed figure can be found in the Property Information Questionnaire.
Service charge only applies to leasehold properties. The correct figure can found in the Property Information Questionnaire answered by the seller.
This is a standard, indicative figure only. Properties that have a service charge often have this included withing that charge. Please consult the Property Information Questionnaire for more information.
Final Equity Profit = Final Property Value - Mortgage Required - Investment
Cumulative Rental Profit = Annual rental profit x Time of Investment
This is the assumed rate of house price inflation.
This is the property value at the end of the investment based on an assumed rate of % house price inflation.
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